UK consumers face soaring chocolate prices this Easter, with chocolate costs up 12.6% since last year—more than double the rise in general supermarket food and drink prices. The average shopper spends over £50 on Easter treats, but this year's bill is significantly higher due to a global cocoa shortage.
Cocoa prices hit a record high just before Valentine's Day and again this week, surpassing $10,000 per tonne—making it more valuable than several precious metals and growing faster than bitcoin. The shortage stems from West Africa, particularly Ghana and Ivory Coast, which produce over half the world's cocoa beans.
Experts attribute the crisis to interconnected factors: climate-related weather events, ageing trees, pests, declining soil fertility, and exploitation in the cocoa industry. Dr Andrew Damyond of the University of Reading noted that El Niño brought wetter conditions to West Africa, increasing pod rot. He warned that more frequent extreme weather could cause greater year-to-year yield fluctuations.
Amarachi Clarke, founder of London-based chocolate brand Lucocoa, described the situation as 'a nightmare waiting to happen.' She linked the shortage to low farmer incomes, saying, 'If you're not paying a farmer properly, they can't afford to respond to climate change.' Clarke also cited layers of slave and child labour in the supply chain.
Douglas Lamont, CEO of Tony's Chocolonely, supported higher costs if they benefit farmers, but noted that high market prices don't always translate to farmer incomes. Dr Michael Odijie of University College London said a historic focus on low consumer prices has driven long-term exploitation, adding that chocolate products are 't.'
